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The crypto world is gaining popularity at a rapid rate. In the modern investing space, the best investors are always on the look for an investment that enlarges and expands its equities. Besides, top investors diversify their portfolios.
That way, most folks that are looking to buy cryptocurrency are looking for an option that could provide them a high rate of return within less time. Given the fact that crypto prices have exploded this year, they're the rage nowadays, and everyone is looking into them. As most people look for affordable investment ways, in this article, we take a look at the top 5 best penny cryptocurrencies to invest in 2022.
Like the penny stocks, penny cryptos trade for as little as below $5 per unit. Even though they are high-risk investment options due to their small market caps, they're arguably the cheapest to invest in. Furthermore, they have a potential for the value increment going forward.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk
Here's a bit more information on the best penny cryptos to invest in 2022 with a potential of better gains;
Online gambling is on the rise, and the global Coronavirus pandemic just boosted its popularity among many users. Lucky Block crypto is following suit thanks to the fact that it's a lottery service with underlying blockchain tech for transparent, faster payout transactions as well as fair gameplay.
The platform uses decentralized smart contracts to ensure fairly performed calculations, random number generation, fund distribution, and rewards. Moreover, the players are given better odds to win and aren't geographically restricted.
Lucky Block's current price is about $72.5, and the crypto is merely in the presale phase. Therefore, most investors have the chance to invest in cryptocurrency. Given the rise in the gambling space, Lucky Block promises to solve several problems in the current lottery systems. For instance, it helps prevent data loss, data manipulation, an unbiased grant system, and almost instant payment of winnings.
You can also join the Lucky Block telegram group for more information.
That way, most lottery players will be looking to buy the coin, subsequently increasing its value.
Your capital is at risk
The primary reason behind Stellar's development was to be used as a low-cost means of transferring funds across various accounts. Interestingly, that objective looks to be met as several platforms keep on adopting the project.
Fast forward to its launch in 2014, Stellar is now widely used across the globe. While a lot can't be crystal clear to the end-user, most businesses and payment systems are using Stellar's coin for cheap and quick international fund transfers.
Steller's underlying blockchain technology differentiates it from other fintech platforms. The crypto's all-time high is about $0.83 but has dropped to a current price of about $0.27.
Notably, Stellar has struck a plethora of high-profile partnerships, such as with Franklin Templeton, IBM, and Grayscale. Moreover, it offers low fees, and changing currency takes only about $0.00006 per transaction.
Also, it's energy-conserving thanks to its proof of stake algorithm, low latency, and scalability. Therefore, it's easy to say that going forward, Stellar looks to gather momentum for a surge in price, hence a good investment option.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk
Perhaps, the king of meme coins, Dogecoin, started as a joke but has turned several investors into millionaires. The coin uses the proof of work mining algorithm like that of Bitcoin. It helps to reduce confirmation time for every block to about 1 minute. Also, it's used as a payment token on several platforms and is a famous tipping coin.
Given its ever-expanding community, with popular companies like Tesla accepting it as a payment token, it's primed for greatness. Like most cryptocurrencies, DOGE hit an all-time high of $0.72 this year, but that price has dropped to about $0.17.
The coin got a boost from influential companies and personalities in 2021, which are bound to continue in 2022, giving it the best chance to increase in value.
Undeniably, one of the best cryptocurrencies in the market; Ripple has been around since 2012 and has won the hearts of many. The platform operates as a payment system and protocol used by several banks for processing global transactions.
The transactions are speedy (taking about 3-5 seconds), solving an initial Bitcoin problem. Besides, XRP requires minimum energy. In addition, the company offers cross-border payment tech to major financial institutions and banks. There was a time that people in the UK were looking more into buying Ripple than how to buy bitcoin in the UK.
Ripple's might have surged beyond $3 in the past, but that price dropped to a current $0.84. However, given that it resolves concerns in slow, inefficient, and costly transactions that are currently taking place across the globe, it makes sense to say that Ripple is an efficient investment option for the future.
Furthermore, Ripple has experienced wide application in several services and storefronts and looks to continue going forward. Therefore, it's among the best penny cryptos for the future.
Ravencoin is new penny crypto that has gained popularity over a few months. The coin was initially developed to be mintable and is meant to be used as digital certificates of ownership or securities – think of it like NFTs that serve most similar purposes.
However, Ravencoin features less functionality as well as operates its very own blockchain. It's focused more on financial aspects, with many applications being in the financial sector and not the art world. Miners just found it the best crypto to mine, increasing its popularity and broad adoption.
Currently, the price of Ravencoin is at about $0.104, and as more and more folks start to use it, mining will be even more lucrative, hence increasing its value. All these factors create a robust basis for Ravencoin, and many believe that crypto has a promising future. Therefore, investing in this coin might be one of those that you'll come to smile at when gains start to knock at your door in the future.
There's no denying that investing in penny cryptocurrencies is usually high-risk. However, that comes with gains when things get cheerful in the future. Therefore, you only need to decide and enjoy your investment in penny cryptocurrencies.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
